Caledonia's strategy to maximise shareholder value includes a quarterly dividend policy which the Board of Directors adopted in 2014. The Board will consider future increases in the dividend as appropriate and in line with its approach to risk management.
Other financial highlights include:
45% cumulative increase from the level of 6.875 cents since October 2019
Third increase in the dividend since October 2019
Significant business resilience demonstrated through the COVID 19 pandemic
Central Shaft equipping on track to be completed in Q4 2020 and commissioning to be completed by end of Q1 2021
Stable production, a high gold price and good cost control have resulted in increased cash generation in 2020; this has given the Board confidence that the business can sustain a higher level of dividend distributions before the benefits of the completion of Central Shaft are realised.